BREAKING: Elizabeth Holmes, former Theranos CEO, has been sentenced to over 11 years in prison after being convicted of fraud earlier this year.
Former Theranos CEO Elizabeth Holmes arrives for her sentencing at federal court with her partner Billy Evans in San Jose, California. Holmes was convicted of four counts of fraud for allegedly engaging in a multimillion-dollar scheme to defraud investors.Former Theranos CEO Elizabeth Holmes arrives for her sentencing at federal court with her partner Billy Evans in San Jose, California.
"The tragedy of this case is that Ms. Holmes is brilliant," Davila said before his pronouncement. But he concluded that she was motivated by avarice and greed to lead investors into believing that her company could do far more than she knew possible. In January, a jury convicted Holmes on four wire fraud-related counts for her role in deceiving investors about a supposedly groundbreaking technology that could scan for hundreds of conditions with just a few drops of blood. It is a feat laboratory scientists around the world for years have tried to accomplish, but Holmes, a Stanford dropout, claimed she had perfected it.